Cards

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/Cards

Card payments dominate UK retail sales as cash usage falls

Cards now account for more than three quarters of the value of retail purchases in the UK, as contactless payments continue to eat into cash's share of the pie.

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Cardnet glitch double charges consumers

Lloyds Bank is apologising to consumers and merchants after a glitch in its Cardnet eftpos terminals charged thousands of customers twice for debit card payments, and under- or overpaid settlement funds in merchant accounts.

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JaJa Finance preps launch of mobile-controlled credit card

London-based startup JaJa Finance is preparing to launch its first mobile-controlled credit cards on the back of £7 million in funding.

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Google bought Mastercard data to link ads with in-store purchases

Google and Mastercard struck a secret deal that used card transaction data to let some US merchants see when online ads led to sales at physical stores, according to Bloomberg.

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TSB delays switch from Visa to Mastercard - FT

TSB's disastrous IT migration in April continues to have repercussions, with the British bank now postponing plans to move all of its customers from Visa to Mastercard debit cards, according to the Financial Times.

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Citi lets credit card customers pay Spotify subscriptions with points

Citi has teamed up with Spotify to enable customers in Asia to use credit card points to pay their music streaming subscriptions.

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Abolition of 1p and 2p coins would mean small change for UK shoppers

Bank of England economists believe that removal of 1p and 2p coins from circulation would have a limited impact on pricing at the checkout, re-igniting a debate over the future of small value copper change.

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Revolut launches metal card with cryptocurrency cashback

Digital banking startup Revolut is targeting the millennial jet set through the launch of a new metal card that comes with a host of benefits, including cashback in Bitcoin and other cryptocurrencies.

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Chinese firms partner for blockchain payment systems play

Two of China’s largest financial services firms have agreed to work towards the development of a blockchain-based mobile payment system in what has been a busy week for China's burgeoning fintech sector and also a signal of the extent of China's blockchain ambitions.

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Paying by card? You're less likely to remember the amount spent

The old axiom that people tend to up their spending when paying by card rather than with cash may lie in the recall accuracy of individual consumers, according to research published by the University of Cologne and the Alpen-Adria-Universität Klagenfurt.

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Alternative payments trump traditional rivals in Apac ecommerce market

Alternative payment methods such as mobile wallets now account for just over half of ecommerce transaction value in Asia Pacific, according to research from GlobalData.

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India's Cosmos Bank falls victim to global ATM cash-out fraud

Indian co-operative Cosmos Bank has fallen victim to a sophisticated malware and ATM cash-out attack that saw 94.24 crore ($13.4 million) stolen in 14,000 transactions across 29 countries.

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FBI warns banks of ATM cash-out threat

The FBI has sent out an alert to banks, warning that cybercrooks are planning an 'unlimited' global ATM cash-out operation.

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Finextra goes mobile first

Welcome to the new-look Finextra, optimised for mobile and rebuilt to drive deeper engagement with our growing global community.

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Visa invests in B2B financing outfit Behalf

Visa has invested in Israel-based point-of-sale financing provider Behalf, tapping in to a growing trend to provide working capital for small merchants and on-demand purchase financing through the checkout.

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US retailer Kroger considers extended Visa credit card ban

Having banned Visa credit cards at its Foods Co. stores over interchange fees, US retail giant Kroger has warned that it could extend the policy to more locations.

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Fin7 cybergang suspects arrested

US authorities have charged three Ukrainians accused of being members of Fin7, a notorious cybergang believed to have hacked into the systems of over 100 American companies, stealing millions of card details from thousands of POS terminals.

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Russian hacker to serve six-year prison sentence over $4 million debit card scam

A Russian hacker who caused the collapse of one US company and racked up $4 million in fraudulent spending on fake debit cards has received a six-year jail sentence.

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Bancomat partners SIA to bring m-payments to millions of Italians

Italian debit network Bancomat has teamed up with SIA to bring mobile money services to its millions of cardholders.

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Bank Leumi sells cards business to Warburg Pincus

Bowing to regulatory demands, Bank Leumi has reached an agreement to sell off its Leumi Card business to Warburg Pincus for $562 million.